GDP up 2.4% in 1Q
Real GDP increased at an annual rate of 2.4 percent in the first quarter of 2013 according to the Burea of Economic Analysis.
The increase primarily reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, residential fixed investment, nonresidential fixed investment.
The gains were partly offset by negative contributions from federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.
Motor vehicle output added 0.28 percentage point to the first-quarter change in real GDP after adding 0.18 percentage point to the fourth-quarter change. Final sales of computers added 0.02 percentage point to the first-quarter change in real GDP after adding 0.10 percentage point to the fourth-quarter change.
Real exports of goods and services increased 0.8 percent in the first quarter, in contrast to a decrease of 2.8 percent in the fourth. Real imports of goods and services increased 1.9 percent, in contrast to a decrease of 4.2 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
